China Stock Market May Reclaim 3,900-Point Level

(RTTNews) - The China stock market has finished lower in back-to-back sessions, contracting more than 60 points or 1.5 percent in that span. The Shanghai Composite Index now sits just beneath the 3,890-point plateau although it's likely to open to the upside on Monday. The global forecast for the Asian markets is positive on easing oil prices and likely bargain hunting. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion. The SCI finished sharply lower on Friday following losses among the resource, industrial and technology sectors, although the banks offered support. For the day, the index sank 46.29 points or 1.18 percent to finish at 3,888.11 after trading between 3,852.03 and 3,912.32.